The Plenary Assembly of the Financial Action Task Force (FATF), held in Paris this week, did justice to the efforts made by Morocco. The group believes that the Kingdom has substantially “completed its action plan and warrants an on-site assessment to verify that the implementation of reforms has begun and is continuing”.
This decision to send a group of experts to carry out a field visit in order to determine to what extent the axes of the approved action plan have been deployed, by the various national authorities and institutions, reflects FATF’s conviction that the Kingdom , subject to the evaluation process, has accomplished all the axes included in said action plan.
The FATF does not fail to list the reforms carried out by the Kingdom, to mention only “the improvement of monitoring and the taking of effective corrective measures, proportionate with dissuasive sanctions in the event of non-compliance”, as well as as “the diversity of forms of suspicious transaction reporting”.
The government led by Aziz Akhannouch is also continuing its mobilization and responsible commitment to ensure that the Kingdom comes out of the FATF gray list which it had joined in March 2021. By way of illustration, the Finances 2023 provides, among other things, for an amendment to the Customs and Indirect Tax Code in order to strengthen the national system for combating money laundering and the financing of terrorism. A new pledge of good faith…
